SCHEDULE 13G
Amendment No. 1
Firstplus Financial Group Incorporated
common stock
Cusip # 33763B103
Cusip # 33763B103
Item 1: Reporting Person - FMR Corp.
Item 4: Commonwealth of Massachusetts
Item 5: 6,400
Item 6: 0
Item 7: 6,400
Item 8: 0
Item 9: 1,829,180
Item 11: 4.334%
Item 12: HC
Cusip # 33763B103
Item 1: Reporting Person - Edward C. Johnson 3d
Item 4: United States of America
Item 5: 0
Item 6: 0
Item 7: 1,829,180
Item 8: 0
Item 9: 1,829,180
Item 11: 4.334%
Item 12: IN
Cusip # 33763B103
Item 1: Reporting Person - Abigail P. Johnson
Item 4: United States of America
Item 5: 0
Item 6: 0
Item 7: 1,829,180
Item 8: 0
Item 9: 1,829,180
Item 11: 4.334%
Item 12: IN
Cusip # 33763B103
Item 1: Reporting Person - Fidelity International Limited
Item 4: Bermuda
Item 5: 1,822,780
Item 6: 0
Item 7: 1,822,780
Item 8: 0
Item 9: 1,829,180
Item 11: 4.334%
Item 12: HC
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(c)
Item 1(a). Name of Issuer:
Firstplus Financial Group Incorporated
Item 1(b). Name of Issuer's Principal Executive Offices:
1600 Viceroy
8th Floor
Dallas, TX 75235
Item 2(a). Name of Person Filing:
FMR Corp.
Item 2(b). Address or Principal Business Office or, if None,
Residence:
82 Devonshire Street, Boston, Massachusetts 02109
Item 2(c). Citizenship:
Not applicable
Item 2(d). Title of Class of Securities:
common stock
Item 2(e). CUSIP Number:
33763B103
Item 3. This statement is filed pursuant to Rule 13d-1(c).
Not applicable
Item 4. Ownership
(a) Amount Beneficially Owned:
1,829,180
(b) Percent of Class:
4.334%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
1,829,180
(ii) shared power to vote or to direct the vote:
0
(iii) sole power to dispose or to direct the
disposition of: 1,829,180
(iv) shared power to dispose or to direct the
disposition of:
Item 5. Ownership of Five Percent or Less of a Common Stock.
If this statement is being filed to report the fact
that as of the date hereof, the reporting person has
ceased to be the beneficial owner of more than five
percent of the class of securities, check the
following (X).
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent
Holding Company.
See attached Exhibit(s) A, B, and C.
Item 8. Identification and Classification of Members of the
Group.
Not Applicable. See attached Exhibit A.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to
above were not acquired and are not held for the
purpose of or with the effect of changing or
influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any
transaction having that purpose or effect.
Signature
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information
set forth in this Schedule 13G in connection with
FMR Corp.'s beneficial ownership of the common stock
of Firstplus Financial Group Incorporated at April
5, 1999 is true, complete and correct.
April 5, 1999
Date
Signature
Eric D. Roiter
Duly authorized under
Power of Attorney
dated December 30, 1997,
by and on behalf
of FMR Corp. and its
direct and indirect
subsidiaries.
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(c)
Fidelity Management Trust Company, 82 Devonshire Street,
Boston, Massachusetts 02109, a wholly-owned subsidiary of FMR
Corp. and a bank as defined in Section 3(a)(6) of the Securities
Exchange Act of 1934, is the beneficial owner of 6,400 shares or
0.015% of the common stock outstanding of the Company as a result
of its serving as investment manager of the institutional
account(s).
Edward C. Johnson 3d and FMR Corp., through its control of
Fidelity Management Trust Company, each has sole dispositive
power over 6,400 shares and sole power to vote or to direct the
voting of 6,400 shares.
Members of the Edward C. Johnson 3d family are the
predominant owners of Class B shares common stock of FMR Corp.,
representing approximately 49% of the voting power of FMR Corp.
Mr. Johnson 3d owns 12.0% and Abigail Johnson owns 24.5% of the
aggregate outstanding voting stock of FMR Corp. Mr. Johnson 3d
is Chairman of FMR Corp. and Abigail P. Johnson is a Director of
FMR Corp. The Johnson family group and all other Class B
shareholders have entered into a shareholders' voting agreement
under which all Class B shares will be voted in accordance with
the majority vote of Class B shares. Accordingly, through their
ownership of voting common stock and the execution of the
shareholders' voting agreement, members of the Johnson family may
be deemed, under the Investment Company Act of 1940, to form a
controlling group with respect to FMR Corp.
Fidelity International Limited, Pembroke Hall, 42 Crowlane,
Hamilton, Bermuda, and various foreign-based subsidiaries provide
investment advisory and management services to a number of non-
U.S. investment companies and certain institutional investors.
Fidelity International Limited is the beneficial owner of
1,822,780 shares or 4.319% of the common stock outstanding of the
Company. Additional information with respect to the beneficial
ownership of Fidelity International Limited is shown on Exhibit
B, page 10
EXHIBIT to SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(c)
Pursuant to instructions in Item 7 of Schedule 13G, this
Exhibit has been prepared to identify Fidelity International
Limited, Pembroke Hall, 42 Crow Lane, Hamilton, Bermuda, a
Bermudan joint stock company incorporated for an unlimited
duration by private act of the Bermuda Legislature (FIL) and an
investment adviser to various investment companies (the
"International Funds") and certain institutional investors, as a
beneficial owner of the 1,822,780 shares or 4.319% of the common
stock outstanding of Firstplus Financial Group Incorporated.
Prior to June 30, 1980, FIL was a majority-owned subsidiary
of Fidelity Management & Research Company (Fidelity), a wholly-
owned subsidiary of FMR Corp. On that date, the shares of FIL
held by Fidelity were distributed, as a dividend, to the
shareholders of FMR Corp. FIL currently operates as an entity
independent of FMR Corp. and Fidelity. The International Funds
and FIL's other clients, with the exception of Fidelity and an
affiliated company of Fidelity, are non-U.S. entities.
A partnership controlled by Edward C. Johnson 3d and members
of his family owns shares of FIL voting stock with the right to
cast approximately 39.89% of the total votes which may be cast by
all holders of FIL voting stock. Mr. Johnson 3d is Chairman of
FMR Corp. and FIL. FMR Corp. and FIL are separate and
independent corporate entities, and their Boards of Directors are
generally composed of different individuals. Other than when one
serves as a sub adviser to the other, their investment decisions
are made independently, and their clients are generally different
organizations.
FMR Corp. and FIL are of the view that they are not acting as
a "group" for purposes of Section 13(d) under the Securities
Exchange Act of 1934 (the "1934" Act) and that they are not
otherwise required to attribute to each other the "beneficial
ownership" of securities "beneficially owned" by the other
corporation within the meaning of Rule 13d-3 promulgated under
the 1934 Act. Therefore, they are of the view that the shares
held by the other corporation need not be aggregated for purposes
of Section 13(d). However, FMR Corp. is making this filing on a
voluntary basis as if all of the shares are beneficially owned by
FMR Corp. and FIL on a joint basis.
FIL has sole dispositive power over 1,822,780 shares owned by
the International Funds. FIL has sole power to vote or direct the
voting of 1,822,780 shares of common stock held by the
International Funds as reported above.
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(c)
RULE 13d-1(f)(1) AGREEMENT
The undersigned persons, on April 5, 1999, agree and consent
to the joint filing on their behalf of this Schedule 13G in
connection with their beneficial ownership of the common stock of
Firstplus Financial Group Incorporated at April 5, 1999.
FMR Corp.
By /s/Eric D. Roiter
Eric D. Roiter
Duly authorized under Power of
Attorney
dated December 30, 1997, by and on
behalf
of FMR Corp. and its direct and
indirect
subsidiaries.
Edward C. Johnson 3d
By /s/Eric D. Roiter
Eric D. Roiter
Duly authorized under Power of
Attorney
dated December 30, 1997, by and on
behalf
of Edward C. Johnson 3d.
Abigail P. Johnson
By /s/Eric D. Roiter
Eric D. Roiter
Duly authorized under Power of
Attorney
dated December 30, 1997, by and on
behalf
of Abigail P. Johnson.
Fidelity Management & Research
Company
By /s/Eric D. Roiter
Eric D. Roiter
V.P. and General Counsel
